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scott is off. i'm jeff glor. five days before the fiscal deadline, there is plenty of name calling but little evidence there is late word of a meeting tomorrow between president obama and congressional leaders. the full senate reconvened today. the president ended his vacation in hawaii early, flying back to washington this morning. but he made no public statements. if there is no deal on a budget by new year's day, nearly every american will see a tax increase. we have two reports on the stalemate, beginning with nancy cordes on capitol hill. nancy. >> reporter: jeff, democratic aides tell cbs news that senate majority leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the h
: good evening, scott is off tonight. i'm jeff glor. it is the end of a holiday week, but it would appear congress is just getting started. tonight, the president said he is mottestly optimistic about a deal to avoid the fiscal cliff, which would mean avoiding automatic tax increases and spending cuts come, you know, 1. the president spoke to the nation this evening after an hour-long meeting with congressional leaders at the white house. democrat and republican leaders have agreed to extend jobless benefits and some tax increases. they appear to remain deadlocked on who exactly will pay those higher taxs. we have two reports tonight, beginning with major garrett at the white house. major, good evening. >> reporter: good evening, jeff. two things are clear tonight that were not clear this morning-- progress is real and if a deal is reached, it will be far smaller than any of the key players envisioned only a couple weeks ago. is this deal, if it's to be reached, will not the so-called grand bargain with trillions of dollars of deficit reduction. in fact, jeff, it's not even clear this dea
funded by cbs >> it's friday welcome to "cbs this morning," everyone. i'm jeff glor with rebecca jar sis. charlie, gayle and norah are off. there are predictions but little progress in washington with a deadline for the fiscal cliff now just four days away. >> president obama meets later today with congressional leaders in one last effort to make a deal before the deadline. major garrett is at the white house. good morning. >> reporter: good morning, rebecca and jeff. in just a couple of hours at the white house the president meets with all the key congressional leaders, top democrats harry reid and nancy pelosi leading republicans mitch mcconnell and john boehner. no deal can be reached in past without their cooperation. with the meeting comes a glimmer of hope. in the past all the ifisical cliff talks meetings like this have been the least productive of all. whether he meant to or not the senate majority leader may have spoken for a nation exhausted by seemingly endless fiscal cliff negotiations. >> what's going on here? >> reporter: what indeed. president obam
" th, everybody everybody. i'm jeff glor along with rebecca jarvis. >>> the fiscal cliff is now just four days away. >>> president obama meets with congressional leaders for one last effort before they reach the deadline. major garrett is at the white house. major, good morning. >> good morning, rebecca and jeff. president obama meets with the top congressional leaders. no deal can be reached impasse without their meeting. so far the fiscal talks have been when all four of these leaders have been present. >> whether he meant it or not, it seems exhaustive. >> i mean what's going on here? >> what indeed. president obama returned to the white house in a grim mood. he met with no congressional leaders and said nothing about his efforts to avert the fiscal cliff. talks continue between senior white house and congressional staff, but that's been true throughout then tire saga. with the deadline looming there were dire predictions. >> come the first of this year, americans will have less income than they have today. >> and rekrimm nations. >> now republicans have bent over backward. we've
himself with it. captioning funded by cbs >>> welcome to "cbs this morning." i'm jeff glor with rebecca jarvis. huge winter storm is making its final stop in the northeast, after causing damage and travel problems coast to coast. >> more than 35 states have felt the power of the storm since it first hit california sunday. it's now blamed for at least 12 deaths, along with the snow it caused more than 40 tornadoes in the deep south, starting on christmas day, and this morning, northern areas of pennsylvania new york and new england have one to two feet of snow on the ground. nearly 500,000 utility customers have lost power. melina shop row is in new york. >> reporter: as the snow continues to fall authorities are urging motorists stay off of the roads. with about a foot of snow already on the ground we're seeing how big and powerful this snowstorm has been. from california to new york the fast-moving storm system that began over the weekend completed its cross-country trek in the northeast, enveloping state after state and heavy snow. >> that's pretty rough. the wet sno
following some troubling developments in hilldale, utah, where warren jeffs is still considered a prophet. the town's only major grocery store has shut down and his followers are being told the world will end by monday. gary tuchman investigates just ahead. >>> tonight, new concerns warren jeffs may be planning something dire from his prison cell. we have been following the saga of jeffs for years now. from his fugitive days to his conviction. jeffs remains a revered figure among his followers in the flds church even though he's serving a life sentence for actually assaulting two underage girls. now the closing of a grocery store in a town on the utah/arizona border has authorities on high alert. jeffs' followers are being told the world will end no later than this coming monday, december 31st. with the store now closed, what other preparations might they be making? at and what potential cost to themselves? gary tuchman went to hilldale, utah, looking for some answers. >> reporter: it is warren jeffs' birthday. the imprisoned prophet of the flds church. in the neighboring twin cities of c
about my good friend, senator jeff bingaman. i think most of the people on his committee feel that he's a good friend. he's been a good friend and mentor to me here in the senate in the years that i've been here, and then also when i arrived in the house we worked with each other. he's been a very good public servant for new mexico and for the united states. and he truly can wear that united states senator proudly. my dad always used to remind me, he used to say -- he said don't forget. you go to represent new mexico, but he says you're a united states senator. and jeff bingaman has worn that title, i think, very, very proudly. jeff is a rare combination of character: brilliant and humble. for jeff, it's about the work. not about his own ego, not about a monument to himself. for three decades in the u.s. senate, he has been making a difference for the american people and for our home state of new mexico. public service is a noble profession when it isn't swamped by money and when it isn't held hostage to partisanship, and jeff is the best example i know of of nobility and politics. by
of the highway patrol in california is a guy named jeff talbott. we believe he's a patriotic american. there he is. in his last year, 'cause he's retired now, jeff collected about a half million dollars in salary. half million dollars. okay? and he retired on $175,000 a year pension. jeff is a police officer. what are you laughing about? you don't think jeff deserves half million? >> god bless jeff. god bless everybody. i mean, the fact -- the season, god bless everybody. but when we have state patrol officers in the state of california walking away with 90% of their highest salary as their pension -- >> bill: they can't pay it. >> there is a reason they call california lala land. >> bill: that's the crux of the matter everywhere. pensions, over time, unions and the folks don't have enough money to pay it. am i oversimplifying it? >> you are simplifying it brilliantly. >> bill: we're sorry to pick on you, jeff. as i said, i believe he's a patriot. probable will he gave his whole career to forgetting the people of california. but 500,000 a year, all right, he gets paid, and then he's walking awa
developments in utah where warren jeffs is still considered a prophet. the store's only major grocery store has shut down and his followers are being told the world will end by monday. gary tuchman investigates just ahead. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. >>> tonight, new concerns warren jeffs may be planning something dire from his prison cell. we have followed him for years. from his fugitive days to his conviction. jeffs remains a revered figure m among his followers in the church. he remains a revered figures among his followers, even though he's serving a life sentence for sexually assaulting two underaged girls. now, the closing of a grocery store on the utah border has authorities on high alert. jeffs followsers are being told that the world will end no later than this sunday. with the store now closed, what other preparations might they be making, and at what cost to themselves? gary tuchman went to utah looking for answers. >> it's warren jeffs' birthday, the imprisoned pr
'm going to take a few minutes today to honor my colleague, the senior senator from new mexico, jeff bingaman, as he retires from a long career of service to our country. for 30 years, senator bingaman has been a dedicated representative of the people of new mexico, but for those -- for 26 of those years, he was a junior senior from new mexico. the only person that i know of that was a junior senator longer than senator bingaman was fritz hollings. he was a junior senator for many, many decades to strom thurmond. but 26 years here in the senate still makes you a fairly senior member. jeff served alongside senator pete domenici, the longest serving senator in new mexico's history, until in 2009 he was the most senior junior senator. still, mr. president, jeff bingaman has never been one to get hung up on titles or credits. if there were ever the conscience of this body, it's jeff bingaman, a man who has been called by others, including by ron dorgan, a -- including byron dorgan, a workhorse. that's really true. for three decades, he has quietly and with dignity fought for the people o
night. >> jeff: sunday of sorrow. president obama arrives in newtown to console victims' families of a massacre as a community and a nation grieve and parents struggle to help their children heal. >> what dow fear the most. >> if can move on with this, if he can trust again. >> jeff: police release new details about the gunman's arsenal. >> multiple magazine force the rifle and multiple magazines for both handguns. >> jeff: as the national conversation turns sharply toward gun control. >> the public will not accept there's a new normal every month. >> and the funeral for the
." >>> welcome to "cbs this morning." i'm jeff glor with rebecca jarvis charlie rose. gayle king and norah o'donnell are off. >>> on the ground and in the air on this busy day before christmas, there's trouble. >> and the problem is a storm system that hit the west coast over the weekend. now it's moving east threatening to cause problems all week long. anna warner is at dallas/ft. worth airport. anna, good morning. >> reporter: we're seeing a steady stream of travelers on their way to destinations. things on the west coast have cleared up. no major flight delays out there so far, but people heading to other holiday destinations may encounter some trouble. that's because this fast moving storm is heading over the rocky mountains and is expected to drop a lot of snow on the midwest as it heads to the northeast. travelers may see problems. those hoping for a white christmas will get their wish, but they may be stuck seeing santa in the airport. >> we don't want to spend christmas at laguardia. >> reporter: more than 5,000 flights were cancelled this week as snow smothered
they say he took off and ran his car into a fence. we go live to the scene jeff? >> reporter: this is on the corner of virginia and alvez the 82 year old was watching television when this crash happened to. the suspects' vehicle plowed right into the front fence. it kept moving and crashed into her car. the suspect vehicle it is this blue sedan very badly damaged. this is completely destroyed. the suspect got out and ran away. >> i heard the sirens and i heard the crash. >> reporter: and you came out and what did you see? >> i came on and i saw that my car was parked here. and its return to it around, they're >> reporter: she says that this is not the first time like this has something happened. they believe that the suspect is somewhere in this area. however, he is still on the loose. reporting live from bay point, kron 4 news. >> in a separate incident. contro costa county authorities are searching for a parolee on the run tonight in baypoint. according to the sheriffs fence. to find him >> this was after a shooting at the bart station. a man is in critical condition tonigh
traffic and get the latest from jeff. good morning. >> starting in prince george's county, not much volume here in either direction. the significance is it's on my way to fed ex and i'm starting to tailgate in about two hours for sunday's game. looking good on other roadways. pennsylvania, and branch avenue and route 50. we'll head over to the fairfax county parkway, it's 95 north, looking good in both your hov lanes and the main line, up from stafford county to the mixing bowl, and over to montgomery county, just north of the american legion bridge. light coming in from virginia around the inner loop into montgomery county. outer loop looks good as well down 270 to the split. no problems on the bw parkway or 95 between the beltways and good ride around the outer loop of the beltway around montgomery county. that's a look at your fox 5 on- time traffic. >>> jeff, thank you very much. first at 7:00, honoring one of the nation's top warriors, general norman schwartzkopf. he died yesterday from complications of pneumonia. >> he is best known for his role in leading international forces in ira
. >> okay, cool. >>> time to check traffic with jeff new man. good morning. julie wright is off. i wanted to say this, hello, newman. >> i never heard that before. >> oh. >> 15 years too late on that. >> good morning, everyone. >> good morning. >> you are looking at the map. nothing is going on. no one is out shopping yet but i need to get something done. federal government is closed today. mail delivered as usual. schools closed throughout the area but h.o.v. restrictions are in effect maryland and virginia. metro running weekday service but dre not running on christmas eve. i'm looking at the maps and the cameras, noth going on. traffic is moving at speed. light volume. no problems at the wilson bridge, leg again bridge and into m, 27 -- into maryland, 270. everyone is still asleep. expect to get some cameras by the shopping malls later on today. i promise you that. we will keep a look on it for you. that's a look at your fox 5 on- time traffic. >> into the end zone is joshua morgan. the redskins lead for the first time. >> they would lead for the rest of the time. they beat the eagles
in newtown, connecticut, cliff van zandt, former fbi profiler and nbc oonlt. we've got psychologist jeff weiner and psychologist jeff gardere. nbc white house correspondent kristen welker, u.s. congresswoman carolyn mccarthy who entered politics after her husband was killed in a shooting on a suburban commuter train. larry johnson the president of the national association of school safety and law enforcement officials. and jamd baldwin, baltimore county police chief. first we go for an immediate update to my msnbc colleague michelle franzen. michelle, thank you for staying with us tonight. >> reporter: well, hi, chris. we're here in the newtown area of connecticut just nearby a couple of miles from sandy hook elementary where the tragic shooting took place earlier today. at this hour hundreds of residents are gathering at a nearby catholic church for a vigil, holding a prayer for those who o'have lost their lives today, those youngest lives, anywhere between kindar garten and fourth grade where those students were shot today. they're holding a prayer vigil and trying to comfort the famil
exchange. let's go to jeff flock on the thick of it at the statehouse in lansing, michigan. the latest please. jeff: they said it would be a big crowd and it is. this of course is the cradle of the labor movement in the u.s. the first place of the uaw and plenty of uaw folks and the unions represented. you will hear plenty of sides on this but i will give you the union side because that is where i am standing. they save right to work means essentially they come into a workplace, negotiate a bunch of benefits and work rules and salary and people who choose not to go to the union benefit from that and that is not fair. that is their argument. the governor, governor snider, who is not a crazy right winger but a moderate governor, he never had this on his agenda but when the labor unions put it on the agenda in the last election with a ballot measure, he said okay, you put this up for grabs, it was defeated, a measure to enshrine the concept of not being a right to work state. they tried to enshrine that failed miserably and the governor said you made this an issue now and we are going to
in utah, where warren jeffs is still considered a praophet. authorities' concerns are growing. gary tuchman investigates just ahead. e'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! [ male announcer ] yes, it is. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. >>
are live from one company bracing for fallout from the fiscal cliff, jeff flock has a preview. jeff: listen carefully to what just transpired in washington, a generator they are testing now, you can almost hear it. we are going to hear from the ceo on this subject of the fiscal cliff and what he hopes will happen and won't happen. stay tuned. tracy: the world's largest producer of gasoline powered engines seeing points for strong growth. we get past the looming fiscal cliff at the end of the year. jeff flock joins us with the company in wisconsin. jeff: is a huge fear and companies like this all over the country but particularly this one in wisconsin, a force for huge growth. these generators are home powered generators. sandy kicked up demand for this. what is their biggest fear? that the fiscal cliff gets gone over and next thing you know, we have problems. listen to the ceo talking exclusively on the fox business network. >> when you look at the fiscal cliff, everything that impact the economy and for us is housing and unemployment because that has a big impact in consumer confidence and
will go to jeff flock for that. jeff. jeff: as we speak, gm executives, that is who you are looking at right now, they are talking about the new chevy silverado. if you look at the pictures of this, there was a huge explosion as a new chevy silverado pickup was unveiled to the public. it is the number one selling vehicle for gm. this is where this thing went off. they set off an explosion down here. they are hoping for and explosion of sales. we talked to the president, for gm and he said even if we go off of it gm can still make money. we can flex and make a lot of money at fiscal cliff levels. we do not think that we need to. jeff: what do you do immediately >> we take a look at different car lines. we look at where the strength is and could be. then we look at the pent up demand. jeff: this is the silverado. they already have some kind of inventory. mark reuss said they have increased incentives. they are selling pickups. if we do not go off the cliff, they are extremely well-positioned. connell: jeff, thank you, as always. we will go back to washington for the speaker of the hou
levels on the mississippi river dropping to record lows. we find jeff flock with more. jeff: and extraordinarily difficult situation here. live pictures from the mississippi. we are on 24 barges and tow. this is the guy who runs this. extraordinary low levels. >> yes. this is the lowest levels we have seen in years. we are approaching record lows we have never seen. jeff: it is not enough to raise the levels, the rain we are seeing right now. >> it is pretty amazing what you can see at these low river stages. it is really amazing how low the water is. jeff: they have had to reduce the amount of cargo that they can ship. it is actually a fertilizer that in this middle part. the outside is actually empty barges to go upriver to bring grain back down. >> correct. jeff: how much of an impact puts back this is fertilizer for spring planting. >> salt for the roads we drive on to keep us safe. jeff: this is almost on navigable. >> if we don't get anything done, we will be off this river. jeff: they are asking the obama administration to blow up some rock formations that are now blo
's jeff this was a statement released by the father of the gunman. candlelight vigils were held across the country to remember the victims. jeff bush was with a group in san francisco and talked to people directly affected by gun violence and this weeks shooting. >> several dozen gathered at the playground in dolores park at sundown. it was a fitting place to remember the young lives that were lost on friday. (reading of names. ) >> everyone was clearly moved by the east coast mass murder but stephanie dalton had a heavier heart than most. stephanie dalton knew one of the victims >> i work with jazz muscians and a very dear friend of mine, jazz saxaphonist, jimmy greene, who is a very beautiful person who's five year old girl, ana greene was lost. >>reporter: stephanie could not contain her emotion when she showed me the picture of her friend's daughter. >> ana was just bright and full and what everybody told me she had the whole world with two loving parents and a father who writes and plays the most beautiful music. >>reporter: megan scully has also been directly affected by a mass s
, no word on his condition. >>> convicted polygmist warren jeff owe. >> there are more deputies around here now. used to be two at any given time. now there's 6. >> residents say the anxiety is ramping up as followers of warren jeff prepare for the end. >>> greater blue backpacks and pack them with essentials and be ready to go. >> the latest published revelations to be ready for a disastrous cleansing. >> former lbs member says he's heard it all before. >> it's just warren whipping them up into another frenzy. >> and when the end doesn't come, jeffs will still be right and blame his followers. >> so it's your fault it didn't happen. >> while the doom's day predictions come and go, the blind obedience could some day lead to tragedy. >> i have a brother in law who told me sister, if the profit told me to i'd slid your throat without thinking about it. always that fear that warren would see how far he could take them. >> former members say jeffs may have chosen december 23rd because it's joseph smith's birthday. smith was the founder of the mormon church. >>> wall street's winning streak cont
accident? kind of a black box tore cars? it cosave money and lives but what about privacy issues? jeff flock has the story. he is live from the streets of chicago. jeff? >> some people like the idea, david, some don't of the you're looking live, by the way, lakeshore drive headed to downtown chicago. we'll have both sides of this issue. it is complicated. stay tuned. it is very interesting and you may be getting a black box whether you like it or not. stay tuned. how do traders using technical analysis streamline their process? at fidelity, we do it by mging two tools into one. combining your customized arts with leadi-edge analysis tools from recognia so you can quickly spot key trends we like this idea so much that we've applied f a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovave reason serious investors are choosing fidelity. now get 200 free trades when you open an account. your soups are so awesomely delicious my husband and i can'stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... w
at one company has spiked because of the superstorm. jeff flock joining us from wisconsin with more. jeff: i have a unique ceo who is concerned about the fiscal cliff but at the same time is hiring like it is going out of style. the ceo of generous. look at what is coming off of the line. that is one of your own power units. it has become so much in demand because of sandy. >> these are products that have only been around ten years. only a 2.5% of u.s. households a huge opportunity for markets. jeff: you have hired 200 people additionally since sandy. >> we are bringing them on and running three ships in this facility today in response. jeff: look at the stock and walked me out here. i will see as much of this facility as i can, a 3,000 square foot facility. bird stock. you have doubled in value as a result of the hurricane. >> we did. people have started to understand the importance of backup power, with you are a homeowner or a business owner. >> this is the wind turned out backup power. this unit right here, let me take a look, people have said i don't want to be out of power every tim
petallides watching traders' reaction from the floor of the nyse, jeff flock watching action on the trading pits of the cme and we have you covered with all-star fed panel. first we begin with nicole petallides on the floor of the nyse with stocks at the top of the hour. the fed now up 6. nicole: we are up six points, we are for six day is a row for the dow jones industrial. some would say people were waiting on the fed, talk about more easing and more stimulus and traders, they were asking about extending the programs, we will see about that. as far as major market averages the dow is just above the unchanged line like the s&p 500 and the ticket in nasdaq pulling back and you see the markets are very tepid and hovering right near zero and waiting for each headline. dennis: thank you, critics are calling it q e forever. the expected in moments to announce a new stimulus. cheryl: a current bond buying program, operation twist is scheduled to end. let's bring in our all-star panel. let's start with gerald 0 driscoll who is with the cato institute. you say we need to end the bond buying progra
workers. you can probably guess number one. we have the list. and he is never rude, jeff flock is looking at what it means for your paycheck as we go over this cleft. jeff: take a look at all of these people right here. they are on the line with employers, small businesses, all around the country right now. big story coming up will be come back. and lots of answers. ♪ dagen: it is time to reflect on all you have accomplished. congress is the most unproductive session since the late 1940s. president obama has signed 290 bills passed by congress this year. this compares to 383 bills passed last year. his approval rating currently stands at a nice round that 18% according to politics average. from the youth list to the downright e'en, a survey from airfare revealed that flyers found -- nearly 25% of the vote. united airlines coming in second with 21% and followed by alta and u.s. airways. the social network suspending its new year's eve messaging tool. it allowed them to read the messages of private users. diane, a big raise. >> that is right. we are watching netflix shares very closely. t
and a half years. one business owner says he is not worried if we had over the cliff. right, jeff flock. jeff: he thinks you and i are crazy for making too much of a deal out of the fiscal cliff. this ceo says the fiscal cliff has a bunch of outside noise. we will have his story of the fiscal cliff when we come back. ♪ ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves.. futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >> im adam schapiro with your fox business brief. general dynamics have been asked to build u.s. submarines for the u.s. navy. it is worth $400 billion. the money has already been securee. barge companies fear falling water levels on the mississippi river could halt commerce as early as next week. the coast guard says it is confident that the waterway will remain open. a new report says champagne sales in france are down nearly 5% from last year. despite the weak sales, fran
and traffic. kron four's jeff bush shows you what it was like today at union square. >> traffic has been crazy down here at union square but those who chose to drive had to be patient because it's been a slow roll all day long. the drive down oferrel street was a slow motion affair and it took several cycles of the traffic lights just to move a block. it was a convergence of pedestrians and other drivers and total gridlock was often the case at any given intersection within a mile of the square. ()horns honking)á. freyed nerves and impatience were affecting many drivers who were caught off guard by the overwhelming amount of drivers ()honking)á and pedestrians. thousands of people were out and about with their shopping bags in tow. when the lights turned, you can see that the intersections were filled with at least a hundred people every time the light turned green. but, eventually, as slow as it was, people got where they were going and joined in with the annual tradition of holiday shopping in the city. i'm jeff bush, live in union square, kron four news >> volunteers in san jose spent the
?" [laughter] jeff -- 1/2 to recruiting. i will give the phone to bob and you can ask him. -- i have to go recruiting. hold on one second. [laughter] some people want to have a drink with you. they want to meet at jeff's. >> my goodness. that man hosts a radio show and he was using the phone to record the press conference. that is mortifying. >> you cannot use remote -- use your iphone to multitask. he handled that very well. >> there were some frustrating moments tuesday -- to say. despite some plays like that, mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >> from the susquehanna bank sports center, this is an 11 sports. >> one heck of a game between the ravens and redskins. baltimore watching, fourth quarter be disappearing the second wee
. that is one of two binding constraints on our economy. >> eliot: before jeff i give him his moment, the reason i disagree is there are trillions of dollars of capital signature on the sidelines not being allocated and not being allocated for a host of reasons primarily a demand crisis and the government given the deficit, spends it. in consumption and its own investment, that seems to me to be the trigger we need to get the economy going. jeff, tell me why you disagree with me or ed. >> i do agree with you eliot. the proof of the pudding is the fact that we did cut tax rates on the rich in the early 2000s under president bush. they're the job creators, the investors, we got a bad economic recovery in expansion. virtually no job creation in that period. the reason is by in large what you're talking about. cutting tax on the rich is not the way to get growth. especially when taxes are already low. the way to get growth now is that we need more demand stimulus and the real danger is all this talk about cutting govern
of interviews with retired senators roll on. my conversation with jeff binghamton about why he wants to change the senate's rules and his own changing views on issues like same-sex marriage. you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. that's what may help lower your cholesterol and -- well that's easy oh, let me guess --ou see this? more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, it's not just a fiscal cliff that looms at the end of the year. a number of washington veterans are packing up their offices and they're not
. let's do traffic. jeff has the latest. >> good morning, tucker. we will start in virginia heading northbound up from the aqua quan. restrictions are in effect in virginia and maryland, h.o.v. restrictions. light volume on route 4. schools are closed throughout the area. here is the other side of the beltway on the approach to the legion bridge equally as empty. if i had shots of parking lots around the malls that might be more appropriate. but i do not. vra is not running but metro is running on a regular weekday schedule. d.c. and maryland not enforcing meters, residential parking rules or restrictions. that is a look at your fox 5 on- time traffic. >> jeff, thank you. >>> as jeff mentioned for anyone that has to work today, metro will operate on a normal weekday schedule. tomorrow, christmas day, trains and buses will run on a sunday schedule. that means they begin running at 7:00 a.m. with the rail system closing at midnight. >>> a warning for drivers heading back to work next year. you will pay more for a trip on the dulles toll road. wtop radio reports tolls will increase 25
to bring these jobs back. >> what do you think about jeff immelt's article where he says i'm bringing jobs back to america makes more economic sense. >> he was bringing jobs back to america. i wasn't prepared for this quiz this morning. i can tell you from memory, he brought a bunch of jobs back in lexington, kentucky. >> he is stoned. >> get lexington, kentucky out. >> do you feel like we do? we're going to kick out with frampton after he's done with this answer. >> he brought back a bunch of jobs at lexington, kentucky but at much lower wages. >> what kind? >> it was appliance jobs. >> they have the huge apply hans city down there and all these massive buildings and their own zip code and one building after another closed down. he's starting up one assembly line after another. are they going to get paid $30 an hour? no. >> here's the point. how do you have a ro best recovery when you have wage compression, people who made $30 an hour making $14 an hour. how do you grow an economy like that. >> the point is do we want these jobs building in germany or alabama. want them in lexington, kent
-year-old cape cod. >> reporter: jeff davis road out >> reporter: pretty lucky for a 45, 50-year-old cape cod. >> reporter: jeff davis road out sandy in his home on new jersey's long beach island. your house is in pretty good shape. you fared well. >> we were lucky, we were lucky. >> reporter: his house was saved by this wall of sand, part of a $16.8 million army corps of engineers project completed six months before sandy. >> they basically brought the waves to a stand still at this point. >> reporter: stew farrell is a coastal geologist who's examining how sand barriers stop rising water pushed ashore by the storm. >> in places where the projects had not been constructed, the damage was extensive and in some cases catastrophic. >> reporter: since 1986, the federal government helped new jersey pay $700 million to build sand walls as high as 22 feet. but some critics, including steve ellis of taxpayers for common sense, call it a beach bailout. >> what we need do is actually reorient the funding so that the majority of the cost is picked up by the localities rather than the feder
. i'll have more detail on that. >> we're not done with this. >> time to say hello to jeff newman. >> i had a bunch of wardrobe malfunction jokes but i'll save them for later. >> we've got plenty of time. >> go get that jacket on, tucker. very light volume out there on the roads. just getting started but not expecting much volume tod. we'll head over to the beltway. top side of the beltway over by georgia avenue, do want to mention if you are heading down through bethesda, 355, rockville pike, southbound, they are still working on a water main break there. right now, very light volume but that is a highly traveled area. be aware of that. head over to virginia, the approach to the 14th street bridge real good right now. no problems to report with light volume and we'll continue over to prince george's county, the beltway over at 201. all your travel lanes are open. no accidents or incidents to report. let's hope it says that way for the remainder of your friday. that's a check of your fox 5 on-time traffic. >>> in the developing fiscal cliff stalemate, president obama is holding a
to privatize the cities i second biggest airport. jeff: this was the world's busiest airport from 1948 to 1961. now it is just three big airlines that call this home. southwest, frontier and delta. it is still a huge cash generator for the city. he famously had a deal to privatize the city's parking meters and the problem is, they took all the money they had and spent it already. mayor manuel is under some scrutiny. as i said, both are choosing to do so. the problem is, if you get that money up front and then you spend it, not such a hot deal. they had a $2.5 billion deal before. the problem is the financial downturn of 2008, 2009 hits. it is a possibility that this could all be done privately. it generates a lot of income for cities. the argument is private industry can do it better than public government can do it. dagen: jeff, thank you very much. happy holidays. merry christmas. jeff: thank you, dagen. dennis: "the hobbit" is becoming a trend in hollywood. it took in $36.7 million. the action thriller starring tom cruise debuts in second place "this is 40" is coming in at third. that is fo
: jeff immelt for the hour. next. >> rose: general electric is the nation's largest industrial company. it employs over 300,000 people around the world. it makes everything from aircraft engines to power plant turbines to medical imaging equipment. the company has evolved over the last decade over jeff immeant's watch. he has led a global expansion and shed once treasured businesses such as plastics and insurance. in 2011, president obama named him to lead the council on jobs and competitiveness. last month, the country created 146,000 jobs, exceeding expectations in the wake of hurricane sandy. further progress will be tested as the fiscal cliff deadline approaches without a deal inside yet. i'm very pleased to have jeff immelt back on this program. welcome >> charlie, thanks, good to be back with you. >> rose: we've talked many times about g.e. since you took over, i think once since -- just after 2001. where is the company today in terms of where do you want it to be and where do you want it to be in the next five years? >> i think, charlie, what we've tried to do is simplify the po
. taking a look at oil. something we do not like to see if you drive a car. jeff flock has a very latest on this. jeff: a slow day at the cme. this is the euro dollar option pits. though oil. is very active. let's put up wti to start with. up over two dollars, up over $90 right now. just short of two dollars. you think, oh, do they know something about the fiscal cliff? not that at all. it is actually action in the middle east. reports of military exercises have commenced. military exercises in there and later in the week more military exercises. brent is off as well. heating oils are up. everything is up. even on a slow day here at the cme in chicago. dagen: good to see you, jeff. jeff flock reporting. thank you. the pentagon planning to deal with half a trillion dollars in budget cuts thanks to the looming cliff. gun sales rising over concerns of tighter gun control laws. we can find some winners in the stock market. here are some of those on the s&p. ♪ she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a qu
. ashley: we need to get our applications and. tracy: oil prices tumbling again. jeff flock in the pits of this cme with the very latest. jeff: coffer of about 1% today. positive news out of china. coffee is down. way down. the number of coffee beans is up. that means prices are down. scott shelby trades a lot. >> not really. deflation may be coming on board and set of inflation. it is something japan has been stuck on for years. jeff: the big markets are not moving. >> when the government tells you lower longer, we may not all put our purchases off for next year. our economy still is not doing very well. we have the inflationary rather than inflationary. jeff: scott will walk slowly, by the way, he fell down the stairs and he is concerned about the economy falling down the stairs. >> even if there is a deal, ultimately, that will not get jobs going. we are growing a little bit. central bankers cannot stand deflation. they have been fighting inflation for years. jeff: i will leave you with the price of gold. you think gold is done. >> it will be cheaper next year. it will start to get p
asked general electric chairman and ceo jeff immelt for his thoughts on the looming fiscal cliff and the impact it could have on the u.s. economy. >> i'd make a couple comments. we've got to get this done now. not there are people who write and go on news shows and say we can let it lapse two weeks. that is specifically not true. we need this to get resolved now. not because because jim mcnerney will say it or jeff immelt will say it, but the millions who work for us, their lives are in flux. this is incredibly credible that we get it done now. we need revenue. everybody knows we need revenue. >> i think the president is right in asking for more revenue and therefore not extending the bush tax cuts to those with more than $250,000. >> bowles-simpson, there's not been one commission that says we can do this just on spending cuts. there has to be revenue. i think speaker boehner is the only guy that can lead us in that. >> that means you've got to take the republicans from the house of representatives and make the deal. >> and i trust that he could do it. >> we'll have more of that
for one wisconsin generator company. jeff flock is live with that story. first, some of the winners and losers. ♪ le announcer ] where do you turn for legal matteters? at legalzoom, we've created a better place to handle youregal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to aner any questions. get started at lalom.com today. and now you're protected. ashley: superstorm sandy causing devastation for many americans. massive power outages sparked a booming business for one wisconsin company. jeff flock has more. jeff: whenever there is a huge economic recovery in this country, this is what it will look like. this is a company that makes generators like no other. they
to, believe it or not, hurricane sandy. >> jeff flock has the story at the bureau in chicago. hi, jeff. >> indeed. two headlines. sandy one, and the other is fiscal cliff. starting to see the first impacts now in terms of considerations about fiscal cliff on the sales call today with ford keeping production up in the first quarter. they are bullish, increasing production by 11%, and gm holding off on sales forecasts because they are worried about the cliff. look at the numbers. as lori said, gm up 3%, ford up 6%, chrysler up, 30th consecutive month of increases for chrysler, toyota up 17%. gm did well with small cars, we're getting to the point in the country where cars are # getting so old, 11 years is the average age of a vehicle right now, and that is driving it as well. on the sandy front, as we look at the stock numbers, the folks at ford say we are 30,000 additional sales industry-wide because of sandy. toyota said they they 400,000 cars were damaged in sandy, a boost to gm and ford. look at the stock there. ford stock not harmed by news of another recall for them. that rec
this break. first, take a look at metals. we are back after this. ♪ two. lori: jeff flock in the pits of this cme. jeff: we have a number of factors running today. i don't think any of them have to do with the fiscal cliff. you can see for your self the volume. there is tumbleweeds going through the pits. i will show you reasons why oil is off today. they all have to do with the middle east. suspended production with baghdad over prices. iran, to prices of military exercises. military exercises starting there today. that makes the oil market very jittery. you can see a little thin here. everything from wti to brent to gasoline futures to heating oil futures. we have a lot of cold weather coming in. a much more need for heating oil and the like. i didn't hear in that ad room. trading volume is light. tracy: so cool. jeff flock, thank you for doing that for us. [talking over each other] lori: as we do every 15 minutes, we chuckled the markets. nicole petallides on the floor of the new york stock exchange. nicole: a lot of down arrows. zynga is really bucking the trend. it is up 3.25%. i
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